What Positive Pay Is and Why Your Business Needs It Now | Horizon Bank

There's a lot to manage when you own a business. From customer satisfaction to employee retention, you have a lot to do to make your business successful. Combatting check forgeries and fraud shouldn’t be another stressful task. Fortunately, Positive Pay makes business protection easier.

Positive Pay is a simple, straightforward solution for combatting check fraud and forgery. When your business issues a check, you load essential information into your Horizon Online Banking. Then, Horizon automatically monitors the information when someone cashes a check. We'll alert you immediately if we find suspicious changes or mismatches.

With Reverse Positive Pay, you will be able to review all going and incoming payments for potential fraud. You do not have to upload any check files or manually add checks. Instead, every check or ACH transaction would create an “exception”, and you have the opportunity to review them each day and indicate whether they should be paid or returned.

So why should your business enroll in Positive Pay?

3 Key Reasons to Enroll in Positive Pay Today

• Protect your business from fraud. Unfortunately, check fraud is on the rise. Positive Pay puts the control in your hands and acts as a type of business insurance. If you enroll, Horizon sends daily summaries in your Online Banking to get your approval for mismatched checks. This process lets you reject deposits that might be forgeries or falsifications. That means your business saves time and money.
• Control transactions for better business management. Using Positive Pay, you can monitor and control every transaction by approving or rejecting them. You can also filter transactions in Online Banking for quicker review. This process makes it easier for your business to track different client payments and disbursements, making business management easier.
• Set up payments for more protection. Reverse Positive Pay offers the same benefits as Positive Pay, plus a few extras. With Reverse Positive Pay, you can set up payments with predetermined deadlines, which gives your business even more fraud protection.

Contact your Horizon Business Advisor today to learn more about Positive Pay.

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